PETROLEUM RESOURCE RENT TAX ACT 1987 (No 143 of 1987) (REPEALED)
SECTION 1
1
SHORT TITLE
This Act may be cited as the Petroleum Resource Rent Tax Act 1987. SECTION 2 2 COMMENCEMENT
This Act shall come into operation on the day on which the Petroleum Resource Rent Tax Assessment Act 1987 comes into operation. SECTION 3 3 INCORPORATION
The Petroleum Resource Rent Tax Assessment Act 1987 is incorporated and shall be read as one with this Act. SECTION 4 4 IMPOSITION OF TAX
Tax is imposed in respect of the taxable profit of a person of a year of tax in relation to a petroleum project. SECTION 5 5 RATE OF TAX
The rate of tax in respect of the taxable profit of a person of a year of tax in relation to a petroleum project is 40%.
This Act may be cited as the Petroleum Resource Rent Tax Act 1987. SECTION 2 2 COMMENCEMENT
This Act shall come into operation on the day on which the Petroleum Resource Rent Tax Assessment Act 1987 comes into operation. SECTION 3 3 INCORPORATION
The Petroleum Resource Rent Tax Assessment Act 1987 is incorporated and shall be read as one with this Act. SECTION 4 4 IMPOSITION OF TAX
Tax is imposed in respect of the taxable profit of a person of a year of tax in relation to a petroleum project. SECTION 5 5 RATE OF TAX
The rate of tax in respect of the taxable profit of a person of a year of tax in relation to a petroleum project is 40%.